The Pension Committee submitted a comment letter to the ERISA Advisory Council regarding the Annual Funding Notice for Defined Benefit Plans (AFN).
( )The Pension Committee submitted a comment letter to Rep. Devin Nunes regarding incentives to provide annuity payouts from qualified plans.
( )The Social Security Committee released an issue brief on the 2017 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program.
( )The Pension Practice Council (PPC) published an issue brief that explores various methods to measure the financial health of pension plans.
( )The Academy hosted a Capitol Hill briefing in connection with the release of its issue brief, Multiemployer Pension Plans: Potential Paths Forward. Pension Practice Council Vice President Bill Hallmark and Vice-Chairperson Josh Shapiro, and Christian Benjaminson, a member of the Multiemployer Plans Subcommittee, gave a presentation on how to address failing multiemployer plans and strengthen the multiemployer pension system. Senior Pension Fellow Ted Goldman moderated.
( )The newest issue of Retirement Account includes items on the Multiemployer Committee’s Capitol Hill briefing on multiemployer pension plans; the Social Security Committee’s issue brief on Social Security and women; and comments to the IRS and Treasury Department on projections of cash balance plan benefits.
( )The Pension Committee submitted a comment letter to the IRS and Treasury Department on the projection of benefits under cash balance plans with variable interest credits.
( )The Social Security Committee produced an issue brief that discusses gender-related factors that can cause differences to the benefits women and men receive from Social Security. Read the news release.
( )The Pension Committee (PC) submitted a comment letter to the Actuarial Standards Board (ASB) on the proposed Actuarial Standard of Practice (ASOP), Setting Assumptions.
( )The Pension Practice Council sent a letter to Congressional leaders on pension-related revenue offsets.
( )The Pension Committee submitted a comment letter to the IRS on an update to mortality tables for determining the present value for defined benefit pension plans.
( )The Multiemployer Plans Subcommittee released notes from its meeting on Feb. 22 with officials of the Treasury and Labor departments, and Pension Benefit Guaranty Corporation to discuss applications by multiemployer pension plans in critical and declining status to suspend benefits or partition liabilities.
( )The spring issue of Retirement Account covers a presentation of “Longevity and Retirement Security” by Senior Pension Fellow Ted Goldman to a U.S. Chamber of Commerce retirement forum; notes from a Multiemployer Subcommittee meeting with members of the PBGC, and Treasury and Labor departments on multiemployer pension plans; an issue brief by the Pension Cost Work Group on pension cost recognition; and more.
( )The Pension Committee submitted a comment letter to the U.S. Treasury Department requesting guidance from the IRS and Treasury to resolve uncertainties that exist as to how variable annuity plans should be valued for minimum funding and Internal Revenue Code (IRC) §417(e) purposes.
( )The Pension Committee submitted a comment letter to the IRS on proposed regulations to the minimum present value requirements for defined benefit (DB) plan distributions.
( )The Multiemployer Pension Plans Subcommittee submitted a comment letter to the Pension Benefit Guaranty Corporation (PBGC) on alternative two-pool withdrawal liability methods.
( )Senior Pension Fellow Ted Goldman presented on “Longevity and Retirement Security” at the U.S. Chamber of Commerce’s “The Shifting Paradigm of Retirement” forum in Washington on Feb. 3, reviewing the jointly sponsored Actuaries Longevity Illustrator and the challenges of and potential approaches to addressing longevity risk. View the slides.
( )The Pension Cost Work Group released an issue brief, Alternatives for Pension Cost Recognition—Implementation Approaches Using Bond Models, that explores potential approaches for determining pension costs.
( )The Pension Committee, Multiemployer Plans Subcommittee, and Public Plans Subcommittee submitted comments to the Actuarial Standards Board (ASB) on a draft actuarial standard of practice (ASOP) on risk assessment and disclosure.
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